NES Fircroft Bondco AS – May 2026 Trading Update
NES Fircroft Bondco AS is pleased to provide a trading update on its performance for May 2026.
The Group delivered another strong month of growth, reporting Net Fee Income ("NFI") of $35.7 million, representing 8% growth vs the prior year. Trading performance continued to translate into earnings growth, with EBITDA of $14.5 million achieved, extending the Group's long-standing track record of growth with an LTM EBITDA of $153.3m.
The business maintained its solid cash generation profile, ending May with cash and cash equivalents (cash and bank balances less drawn amounts under the IDFs) of $49.9 million, an increase of $7.4 million compared with the previous month. The increase was achieved through strong performance, continued focus on working capital management and cash discipline.
May was a strong month operationally, and the contractor book increased by 217 to 24,588 during the month.
NES Fircroft is also pleased to announce that it has successfully secured a significant Managed Service Provider ("MSP") contract within the data centre sector. The contract is expected to deliver approximately 2,400 additional contractors and $4 million of incremental NFI during the first 12 months.
The Board remains encouraged by the Group's trading performance, robust cash generation and positive contractor momentum as it continues to execute its growth strategy across key markets.
For additional information, please contact:
Mark Le Vesconte Group Finance Director